The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Iovance Biotherapeutics Inc shares valued at $2,287,500 were purchased by MCPEAK MERRILL A on Feb 20 ’24. At $9.15 per share, MCPEAK MERRILL A acquired 250,000 shares. The insider’s holdings grew to 320,150 shares worth approximately $3.42 million following the completion of this transaction.
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Also, Dukes Iain D. purchased 32,000 shares, netting a total of over 292,800 in proceeds. Following the buying of shares at $9.15 each, the insider now holds 54,000 shares.
Before that, Rothbaum Wayne P. had added 5,000,000 shares to its account. In a trade valued at $45,750,000, the Director bought Iovance Biotherapeutics Inc shares for $9.15 each. Upon closing the transaction, the insider’s holdings increased to 5,000,000 shares, worth approximately $299.48 million.
As published in a research note from Piper Sandler on July 29, 2024, Iovance Biotherapeutics Inc [IOVA] has been rated down from an Overweight to a Neutral and the price target has been revised to $10 from $19. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in mid November. As of September 18, 2023, Barclays has reiterated its “an Overweight” rating for IOVA. Earlier on May 30, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for IOVA stock which previously was a “an Equal weight”.
Analyzing IOVA Stock Performance
During the last five days, there has been a surge of approximately 34.38%. Over the course of the year, Iovance Biotherapeutics Inc shares have jumped approximately 31.24%. Shares of the company reached a 52-week high of $18.33 on 02/28/24 and a 52-week low of $7.11 on 08/05/24. A 50-day SMA is recorded $8.44, while a 200-day SMA reached $9.61. Nevertheless, trading volume fell to 7.39 million shares from 6.48 million shares the previous day.
Support And Resistance Levels for Iovance Biotherapeutics Inc (IOVA)
According to the 24-hour chart, there is a support level at 10.34, which, if violated, would cause prices to drop to 10.01. In the upper region, resistance lies at 10.87. The next price resistance is at 11.08. RSI (Relative Strength Index) is 64.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.60, which suggests the price will increase in the coming days. Percent R is at 7.05%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
